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Risk-off Episodes and Swiss Franc Appreciation: the Role of Capital Flows
de Carvalho Filho, Irineu - 2013
tend to appreciate. The immediate impact of a risk-off shock is an increase in net private inflows to Switzerland, mostly …
Persistent link: https://www.econbiz.de/10011430103
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Capital controls in Brazil: effective?
Chamon, Marcos; Garcia, Márcio - 2013
We analyze the impact of the controls and restrictions on capital inflows that Brazil has adopted since late 2009. We document that these measures had some success in segmenting the Brazilian and global financial markets, as measured by wedges between onshore and offshore prices of similar fixed...
Persistent link: https://www.econbiz.de/10011807430
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The banking sector and the Swiss financial account during the financial and European debt crises
Auer, Raphael A.; Tille, Cedric - In: Aussenwirtschaft 67 (2016) 2, pp. 69-97
financial centers like Switzerland. We focus on the pattern of capital flows involving the Swiss banking industry. We first rely … into Switzerland by foreign banks. We then use more detailed data from the Swiss banking statistics which allow us to … Switzerland, yet are foreign-owned. In addition, while the demand for the franc was driven by both foreign and domestic customers …
Persistent link: https://www.econbiz.de/10012435218
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International monetary reform: A critical appraisal of some proposals
Park, Yung Chul; Wyplosz, Charles - 2012
This paper reviews some of the current debates on the reform of the international monetary system. Despite its deficiencies, the United States (US) dollar will remain the dominant currency and Special Drawing Rights (SDR) cannot serve as either an international medium of exchange or a reserve...
Persistent link: https://www.econbiz.de/10010397211
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Explaining foreign holdings of Asia's debt securities: The Feldstein-Horioka paradox revisited
Horioka, Charles Yuji; Terada-Hagiwara, Akiko; Nomoto, … - 2015
In this paper, we find that home bias is still present in all economies and regions, especially in the case of short-term debt securities, but that there are substantial variations among economies and regions in the strength of home bias, with the Eurozone economies, the US, and developing Asia...
Persistent link: https://www.econbiz.de/10011421476
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Dealing with large and volatile capital flows and the role of the IMF
L´Hotellerie-Fallois, Pilar; Moreno, Pablo; Balteanu, Irina - 2016
The last decade has been characterised by the pronounced volatility of capital flows. While cross-border capital flows can have many benefits for both advanced and emerging market economies, they may also carry risks, which require appropriate policy responses. Disentangling the push from the...
Persistent link: https://www.econbiz.de/10011606332
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A quantitative analysis of the size of IMF resources
L´Hotellerie-Fallois, Pilar; Broos, Menno; Gallego … - 2018
In this report, three methodological approaches are applied to assess the size of the International Monetary Fund: benchmarking Fund resources against a number of relevant global economic and financial indicators; an extrapolation of past and current IMF programme characteristics; and a shock...
Persistent link: https://www.econbiz.de/10011972276
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Twenty years after the financial crisis in the Republic of Korea
Lee, Jong-Wha - 2017
This study reviews the evolution of financial markets, institutions, and policy frameworks in the economy of the Republic of Korea over the two decades since the 1997 Asian financial crisis and assesses their effectiveness in reducing the likelihood and adverse effects of future financial...
Persistent link: https://www.econbiz.de/10011944174
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Surges and instability: The maturity shortening channel
Li, Xiang; Su, Dan - 2022
Capital inflow surges destabilise the economy through a maturity shortening mechanism. The underlying reason is that firms have incentives to redeem their debt on demand to accommodate the potential liquidity needs of global investors, which makes international borrowing endogenously fragile....
Persistent link: https://www.econbiz.de/10013173994
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DNDFs:a more efficient way to intervene in FX markets?
Garcia, Márcio; Volpon, Tony - 2014
We analyze the unique intervention strategy of the BCB using DNDFs (Domestic-Non-Deliverable Forwards): currency forwards that settle in domestic currency. We show the mechanisms through which DNDFs provide efficient hedging instruments for economic agents in times of reduced capital inflows and...
Persistent link: https://www.econbiz.de/10011807445